China proposes Azerbaijan consider joining SCO Development Bank

China has proposed that Azerbaijan consider joining the Development Bank of the Shanghai Cooperation Organisation (SCO) during a meeting between Deputy Finance Minister Himalay Mamishov and representatives of China’s Ministry of Finance.

The meeting highlighted the dynamic development of relations between Azerbaijan and China, Caliber.Az reports, citing local media.

Azerbaijan expressed interest in further strengthening its partnership with China both bilaterally and within multilateral platforms, including the Asian Development Bank (ADB).

Mamishov said greater participation of Chinese companies in Azerbaijan’s industrial zones, as well as expanded cooperation in manufacturing, green technologies, digital economy, and logistics, aligns with Azerbaijan’s strategic priorities.

He noted that China is one of Azerbaijan’s key trading partners, adding that there is significant potential to further expand economic and trade cooperation between the two countries.

Mamishov also stressed that key directions for developing bilateral relations include export diversification and increasing trade turnover, particularly in the non-oil sector.

By Bakhtiyar Abbasov